Services

Choosing a Financial Adviser

The best way to find a financial adviser is often through a personal
recommendation, but even this has potential pitfalls. A client may be
perfectly happy with their financial adviser, but at the same time be
blissfully unaware that their adviser has been earning high levels of
commission because of the products they have recommended.

Charges are important, but this does not mean that cheapest is best;
it rarely is. Of greater relevance is transparency of charges so you can
determine exactly what you are paying.

How an adviser is paid is fundamental to your chances of receiving impartial
advice. If they are fee-based then their interests are aligned with yours.
If they are commission-based there is the potential for a conflict of
interests, especially if the most appropriate course of action is for
you to do something that does not generate a commission payment.

Ongoing service should also be an important consideration. This service
should include a regular analysis of your portfolio and your circumstances,
to ensure that your finances remain in the best possible shape to meet
your objectives.

Free Pensions and saving advice for the UK

Knowledge

Finally, the knowledge and resources of your adviser should be considered.
If you deal with an adviser you need to feel that they are competent. This
may be demonstrated by their experience and the examinations that they hold.
The Certificate of Financial Planning needs to be passed before somebody
is able to give advice. These exams in themselves are not adequate. You
should look for experience and qualifications in addition to this.

As important is the back-up and resources they have. Individual advisers
are not capable of providing specialist advice in every aspect of financial
planning.